AP govt slashes petrol rates

The Andhra Pradesh government today slashed petrol and diesel prices by 40 paise and 22 paise, respectively, per litre.

The decision was taken by chief minister Dr Y S Rajasekhara Reddy, at a high level meeting with commercial tax officers, to review the hike in petrol prices.

The commercial/sales tax has been slashed from 34% to 33% on petrol and 23% to 22.25% on diesel, which amounts to reduction of 40 paise for petrol and 22 paise for diesel, a spokesman of the chief minister's office said.